Tampa Bay home prices outpace income
Earnings in Tampa Bay are simply not keeping up with housing prices. According to a report from ATTOM Data Solutions, average earnings in Hillsborough, Pinellas and Pasco counties fall considerably short of the annual income required to buy a house, based on a 28 percent front end debt-to-income ratio and 3 percent down. The average resident in Hillsborough County earns slightly more than $54,000, compared to a required annual income (for a house) of $58,258. In Pinellas County, the average income…Original Article
Gentrification is more beneficial for the original residents of a neighborhood than previously thought, according to a new study of fast-improving city neighborhoods across the US.
A Naples developer says it is planning to build luxury condos on the site of a long-stalled apartment tower. Ronto Group said Wednesday that it is planning to build Altura Bayshore, a 73-unit, 22-story condo tower on the surface parking at 2907 S. Ysabella Ave., adjacent to the office building at Bayshore and Bay-to-Bay boulevards. The units will range from 2,176 to 3,575 square feet, with pricing from the "low" $1 millions to $2.9 million. Smith & Associates Real Estate is the listing agent on…
The housing market continues to face a “seemingly offsetting set of headwinds and tailwinds,” said one analyst.
For decades, smaller metropolitan areas closed the income gap with bigger, richer ones, but no longer. So places like Winston-Salem, N.C., are trying to lay a new foundation for prosperity.
Two construction companies that were originally awarded buildings in Water Street's first phase are now building the apartment towers.
More Tampa Bay homeowners are keeping up with their mortgages. According to a loan performance insights report from CoreLogic, this past April, the mortgage delinquency rate in the Tampa-St. Petersburg-Clearwater metropolitan area, 3.9 percent, was 2.4 percentage points lower than it was in April 2018, when it was 6.3 percent. The serious delinquency rate decreased, too. This rate — which measures payments that are 90 days or more past due, including loans in foreclosure — also decreased by…
J. Timothy Gannon, the co-founder of Outback Steakhouse and Tampa-based Bloomin’ Brands, has exchanged Palm Beach mansions and millions of dollars with hedge fund executive Laurence M. Austin and wife Molly M. Austin. Gannon sold his 7,005-square-foot beachfront mansion at 1300 N. Ocean Blvd. for $12.23 million to the Austins. On the same day, the Austins sold their 5,802-square-foot home at 235 Nightingale Trail to Gannon for $5.76 million. The listing agent for the home at 1300 N. Ocean Blvd.…
Using government subsidies, tax credits and zoning changes, city leaders are encouraging builders to incorporate affordable housing into mixed-use projects.
A developer is targeting one of the largest remaining vacant parcels in the Tampa suburb.